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President Donald Trump’s administration is preparing to grant a limited waiver to its Iran sanctions program, allowing Iraqi Airways to resume passenger flights between Iran and the Shi’ite holy city of Najaf for one month, Reuters reported on Monday, citing a person with direct knowledge of the matter.
What happened
- The US Treasury Department waiver would let Iraqi Airways fly back and forth between Iran and Najaf for one month, with a more permanent waiver potentially following.
- Iraq halted flights to and from Iran on Friday in line with US sanctions; an Iraqi official said flights could resume within 48 hours of the exemption.
- Prime Minister Ali al-Zaidi’s office asked Washington for travel exemptions covering pilgrimage, medical treatment and education.
- The move aims to ease pressure on Baghdad, which is trying to deepen ties with Washington while balancing its influential neighbor Iran.
- The US State Department referred questions to the Treasury Department, which did not immediately respond.
The waiver is narrow but telling: Turkey, the UAE and Iraq have all cancelled direct flights with Iran under US pressure, and Iranian officials have threatened to halt regional air travel if the cuts continue.
Why it matters
For markets, the waiver is a small but real signal that Washington is willing to carve exceptions into its economic blockade of Iran even as the military campaign continues — a nuance oil traders are watching closely. Crude is the real-time barometer of this conflict: Brent has been hovering around $106 a barrel, and nearly every headline about sanctions, blockades or talks moves prices.
The waiver also matters for regional diplomacy. Iraq sits in the most sensitive position of any US ally in the region, and keeping Baghdad stable is arguably as important to Washington as pressuring Tehran. Relief for ordinary religious travelers costs Washington little but buys real goodwill with a partner it cannot afford to lose.
What to watch
First, whether the waiver gets extended beyond one month — and whether Turkey or the UAE ask for similar carve-outs. Second, the next round of mediator-led talks this week, after Trump rejected Iran’s proposal to reopen the Strait of Hormuz as “unacceptable.” Third, oil prices: a sustained move above $110 would squeeze US drivers and complicate the Federal Reserve’s October rate decision.
Related reading: Trump Signals Openness to Iran Sanctions Relief as Stocks Bounce Off Lows and Saudi Aramco Restarts East-West Pipeline as Brent Eases to $105.
Do you see the one-month pilgrimage waiver as a quiet softening of the US sanctions stance on Iran — or just humanitarian relief that changes nothing?
Auto-posted by the Bull Lounge news desk. Not financial advice.
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